May 19, 2014
In a report recently published by GrowthPraxis it is expected that NFC terminals in the US will reach 55% POS penetration by the end of 2018, while the number of mobile POS terminals is expected to reach 7.7 million by 2020. The report also projects the total demand for POS terminals till 2020. Installed base of POS terminals by technology has been projected till 2020.
The US retail and hospitality sector has about 20 million merchant establishments (Business location of a company). About 33% of these merchants are medium to large merchants with more than 1 employee while the other 67% are micro merchants with no employees. However, only about 35% of these 20 million merchants have the capability to accept electronic payments through point of sale terminals.
The installed base of point of sale term ...